Capricor Therapeutics (CAPR) 10-Q 15 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 12, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	CAPRICOR THERAPEUTICS, INC.
Entity Central Index Key	1,133,869
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CAPR
Entity Common Stock, Shares Outstanding		22,595,310

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 2,750,473	$ 3,204,378
Marketable securities	8,992,980	12,990,510
Restricted cash	1,125,830	1,347,225
Grant receivable	197,214	223,335
Prepaid expenses and other current assets	398,175	342,892
TOTAL CURRENT ASSETS	13,464,672	18,108,340
PROPERTY AND EQUIPMENT, net	411,877	435,336
OTHER ASSETS
Intangible assets, net of accumulated amortization of $159,616 and $147,429, respectively	130,066	142,253
Other assets	61,426	61,426
TOTAL ASSETS	14,068,041	18,747,355
CURRENT LIABILITIES
Accounts payable and accrued expenses	2,505,801	3,038,780
Accounts payable and accrued expenses, related party	109,796	489,217
Deferred revenue, current	683,592	1,367,186
TOTAL CURRENT LIABILITIES	3,299,189	4,895,183
LONG-TERM LIABILITIES
Loan payable	13,905,857	13,905,857
CIRM liability	3,100,000	3,100,000
Accrued interest	954,789	849,469
TOTAL LONG-TERM LIABILITIES	17,960,646	17,855,326
TOTAL LIABILITIES	21,259,835	22,750,509
COMMITMENTS AND CONTINGENCIES (NOTE 7)
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.001 par value, 50,000,000 shares authorized, 21,399,019 shares issued and outstanding at March 31, 2017 and December 31, 2016	21,399	21,399
Additional paid-in capital	50,422,955	49,951,165
Accumulated other comprehensive income	9,711	3,524
Accumulated deficit	(57,645,859)	(53,979,242)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(7,191,794)	(4,003,154)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 14,068,041	$ 18,747,355

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Net of accumulated amortization (in dollars)	$ 159,616	$ 147,429
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	21,399,019	21,399,019
Common stock, shares outstanding	21,399,019	21,399,019

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
INCOME
Collaboration income	$ 683,594	$ 911,458
Grant income	197,214	303,631
TOTAL INCOME	880,808	1,215,089
OPERATING EXPENSES
Research and development	3,257,149	4,341,119
General and administrative	1,189,238	1,084,696
TOTAL OPERATING EXPENSES	4,446,387	5,425,815
LOSS FROM OPERATIONS	(3,565,579)	(4,210,726)
OTHER INCOME (EXPENSE)
Investment income	4,282	10,510
Interest expense	(105,320)	(66,125)
TOTAL OTHER INCOME (EXPENSE)	(101,038)	(55,615)
NET LOSS	(3,666,617)	(4,266,341)
OTHER COMPREHENSIVE GAIN (LOSS)
Net unrealized gain (loss) on marketable securities	6,187	(6,157)
COMPREHENSIVE LOSS	$ (3,660,430)	$ (4,272,498)
Net loss per share, basic and diluted (in dollars per share)	$ (0.17)	$ (0.26)
Weighted average number of shares, basic and diluted (in shares)	21,399,019	16,537,502

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - 3 months ended Mar. 31, 2017 - USD ($)	Total	COMMON STOCK [Member]	ADDITIONAL PAID-IN CAPITAL[Member]	OTHER COMPREHENSIVE INCOME [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2016	$ (4,003,154)	$ 21,399	$ 49,951,165	$ 3,524	$ (53,979,242)
Balance (in shares) at Dec. 31, 2016		21,399,019
Stock-based compensation	471,790	$ 0	471,790	0	0
Stock-based compensation (in shares)		0
Unrealized gain on marketable securities	6,187		0	6,187	0
Net loss	(3,666,617)	$ 0	0	0	(3,666,617)
Balance at Mar. 31, 2017	$ (7,191,794)	$ 21,399	$ 50,422,955	$ 9,711	$ (57,645,859)
Balance (in shares) at Mar. 31, 2017		21,399,019

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,666,617)	$ (4,266,341)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	38,772	31,604
Stock-based compensation	471,790	290,586
Change in assets - (increase) decrease:
Receivables	26,121	(91,693)
Prepaid expenses and other current assets	(55,283)	(110,818)
Other assets	0	(1,000)
Change in liabilities - increase (decrease):
Accounts payable and accrued expenses	(532,979)	693,544
Accounts payable and accrued expenses, related party	(379,421)	118,535
Accrued interest	105,320	65,789
Deferred revenue	(683,594)	(911,459)
NET CASH USED IN OPERATING ACTIVITIES	(4,675,891)	(4,181,253)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities	(3,996,283)	(2,505,572)
Proceeds from sales and maturities of marketable securities	8,000,000	8,000,000
Purchases of property and equipment	(3,126)	(45,808)
NET CASH PROVIDED BY INVESTING ACTIVITIES	4,000,591	5,448,620
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from sale of common stock	0	3,929,795
Proceeds from loan payable	0	1,000,000
Proceeds from stock awards, warrants, and options	0	986
NET CASH PROVIDED BY FINANCING ACTIVITIES	0	4,930,781
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(675,300)	6,198,148
Cash, cash equivalents, and restricted cash balance at beginning of period	4,551,603	5,568,306	$ 5,568,306
Cash, cash equivalents, and restricted cash balance at end of period	3,876,303	11,766,454	$ 4,551,603
SUPPLEMENTAL DISCLOSURES:
Interest paid in cash	0	0
Income taxes paid in cash	$ 0	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The mission of Capricor Therapeutics, Inc., a Delaware corporation (referred to herein as “Capricor Therapeutics” or the “Company”), is to develop innovative therapies for diseases focusing on cardiovascular diseases as well as exploring other indications. Capricor, Inc. (“Capricor”), a privately-held company and a wholly-owned subsidiary of Capricor Therapeutics, was founded in 2005 as a Delaware corporation based on the innovative work of its founder, Eduardo Marbán, M.D., Ph.D. After completion of a merger between Capricor and a subsidiary of Nile Therapeutics, Inc., a Delaware corporation (“Nile”), on November 20, 2013, Capricor became a wholly-owned subsidiary of Nile and Nile formally changed its name to Capricor Therapeutics, Inc. Capricor Therapeutics and its subsidiary, Capricor, together have four drug candidates, two of which are in various stages of active The accompanying unaudited interim condensed consolidated financial statements for Capricor Therapeutics and its wholly-owned subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP. In the Company’s opinion, all adjustments, consisting of normal and recurring adjustments, considered necessary for a fair presentation have been included. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (“SEC”) on March 16, 2017, from which the December 31, 2016 consolidated balance sheet has been derived. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. Our condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation. The Company has historically financed its research and development activities as well as operational expenses from equity financings, government grants, a payment from Janssen Biotech, Inc. (“Janssen”) pursuant to a Collaboration Agreement with Janssen and a loan award and a grant from the California Institute for Regenerative Medicine (“CIRM”). Cash, cash equivalents and marketable securities as of March 31, 2017 were approximately $ 11.7 16.2 0.001 5.0 In May 2017, the Company entered into Subscription Agreements with certain accredited investors, pursuant to which the Company issued an aggregate of 1,196,291 3.10 3.7 Under the terms of the Company’s ALLSTAR Loan Award with CIRM (see Note 2 – “Loan Payable”), Capricor received $ 4.8 3.4 2.3 3.1 2.4 4.2 The Company’s principal uses of cash are for research and development expenses, general and administrative expenses, capital expenditures and other working capital requirements. The Company’s future expenditures and capital requirements may be substantial and will depend on many factors, including, but not limited to, the following: ⋅ the timing and costs associated with the manufacturing of its product candidates; ⋅ the timing and costs associated with commercialization of its product candidates; ⋅ the timing and costs associated with its clinical trials and preclinical studies; ⋅ the number and scope of its research programs; and ⋅ the costs involved in prosecuting and enforcing patent claims and other intellectual property rights. The Company’s cash requirements are expected to continue to increase as it advances its research, development and commercialization programs, and the Company expects to seek additional financing primarily from, but not limited to, the sale and issuance of equity or debt securities, the licensing or sale of its technology and from government grants. The Company cannot provide assurances that financing will be available when and as needed or that, if available, financing will be available on favorable or acceptable terms or at all. If the Company is unable to obtain additional financing when and if required, it would have a material adverse effect on the Company’s business and results of operations and the Company could be required to reduce expenses and curtail operations. To the extent the Company issues additional equity securities, its existing stockholders could experience substantial dilution. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. The most sensitive estimates relate to the period over which collaboration revenue is recognized, recoverability and fair value of intangible assets, and the assumptions used to estimate stock-based compensation expense. Management uses its historical records and knowledge of its business in making these estimates. Accordingly, actual results may differ from these estimates. The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. March 31, March 31, 2017 2016 Cash and cash equivalents $ 2,750,473 $ 11,766,454 Restricted cash 1,125,830 - Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 3,876,303 $ 11,766,454 The Company has two awards with CIRM designated for specific use, a Loan Agreement with CIRM (the “CIRM Loan Agreement”) entered into on February 5, 2013 (see Note 2 – “Loan Payable”) in connection with the ALLSTAR Phase II clinical trial and the CIRM Award (see Note 6 – “Government Grant Awards”) related to the HOPE Phase I/II clinical trial. Restricted cash represents funds received under these awards which are to be allocated to the research costs as incurred. Generally, a reduction of restricted cash occurs when the Company deems certain costs are attributable to the respective award. The restricted cash balance was approximately $ 1.1 1.3 The Company determines the appropriate classification of its marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. All of the Company’s marketable securities are considered as available-for-sale and carried at estimated fair values. Realized gains and losses on the sale of debt and equity securities are determined using the specific identification method. Unrealized gains and losses on available-for-sale securities are excluded from net income and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity. Property and equipment are stated at cost. Repairs and maintenance costs are expensed in the period incurred. Depreciation is computed using the straight-line method over the related estimated useful life of the asset, which such estimated useful lives range from five to seven years. Leasehold improvements are depreciated on a straight-line basis over the shorter of the useful life of the asset or the lease term. Depreciation was approximately $ 26,584 19,417 March 31, December 31, 2017 2016 Furniture and fixtures $ 51,161 $ 51,161 Laboratory equipment 590,935 587,809 Leasehold improvements 47,043 47,043 689,139 686,013 Less accumulated depreciation (277,262) (250,677) Property and equipment, net $ 411,877 $ 435,336 Amounts attributable to intellectual property consist primarily of the costs associated with the acquisition of certain technologies, patents, pending patents and related intangible assets with respect to research and development activities. Certain intellectual property assets are stated at cost and are amortized on a straight-line basis over the respective estimated useful lives of the assets ranging from five to fifteen years. Also, the Company recorded capitalized loan fees as a component of intangible assets on the consolidated balance sheet (see Note 2 – “Loan Payable”). Total amortization expense was approximately $ 12,187 Years ended Amortization Expense 2017 (9 months) $ 36,562 2018 43,733 2019 43,276 2020 4,330 Thereafter 2,165 As a result of the merger in 2013 between Capricor and Nile, the Company recorded $ 1.5 Business Combinations 1.5 Generally, government research grants that provide funding for research and development activities are recognized as income when the related expenses are incurred, as applicable. Because the terms of the CIRM Award allow Capricor to elect to convert the grant into a loan at the end of the project period, the CIRM Award is being classified as a liability rather than income (see Note 6 - “Government Grant Awards”). Revenue from nonrefundable, up-front license or technology access payments under license and collaborative arrangements that are not dependent on any future performance by the Company is recognized when such amounts are earned. If the Company has continuing obligations to perform under the arrangement, such fees are recognized over the estimated period of the continuing performance obligation. The Company accounts for multiple element arrangements, such as license and development agreements in which a customer may purchase several deliverables, in accordance with FASB ASC Subtopic 605-25, Multiple Element Arrangements The Company determined that the deliverables under its Collaboration Agreement with Janssen (see Note 8 – “License Agreements”) did not meet the criteria to be considered separate accounting units for the purposes of revenue recognition. As a result, the Company recognizes revenue from non-refundable, upfront fees ratably over the term of its performance under the agreement with Janssen. The upfront payments received, pending recognition as revenue, are recorded as deferred revenue and are classified as a short-term or long-term liability on the consolidated balance sheets of the Company and amortized over the estimated period of performance. The Company periodically reviews the estimated performance period of its contract based on the estimated progress of its project. The Company accounts for the funds advanced under the CIRM Loan Agreement (see Note 2 – “Loan Payable”) as a loan payable as the eventual repayment of the loan proceeds or forgiveness of the loan is contingent upon certain future milestones being met and other conditions. As the likelihood of whether or not the Company will ever achieve these milestones or satisfy these conditions cannot be reasonably predicted at this time, the Company records these amounts as a loan payable. Rent expense for the Company’s leases, which generally have escalating rental amounts over the term of the lease, is recorded on a straight-line basis over the lease term. The difference between the rent expense and rent paid has been recorded as deferred rent in the consolidated balance sheet accounts payable and accrued expenses, related party. Rent is amortized on a straight-line basis over the term of the applicable lease, without consideration of renewal options. Costs relating to the design and development of new products are expensed as research and development as incurred in accordance with FASB ASC 730-10, Research and Development 3.3 4.3 Comprehensive income (loss) generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company’s comprehensive loss was approximately $ 3.7 4.3 6,187 (6,157) The Company accounts for stock-based employee compensation arrangements in accordance with guidance issued by the FASB, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, consultants, and directors based on estimated fair values. The Company estimates the fair value of stock-based compensation awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s statements of operations. The Company estimates the fair value of stock-based compensation awards using the Black-Scholes model. This model requires the Company to estimate the expected volatility and value of its common stock and the expected term of the stock options, all of which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected stock option exercise behavior. The Company calculates an average of historical volatility of similar companies as a basis for its expected volatility. Expected term is computed using the simplified method provided within Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 110. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the options. Basic loss per share is computed using the weighted-average number of common shares outstanding during the period. Diluted loss per share is computed using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares, which primarily consist of stock options issued to employees, consultants and directors as well as warrants issued to third parties, have been excluded from the diluted loss per share calculation because their effect is anti-dilutive. For the three months ended March 31, 2017 and 2016, warrants and options to purchase 8,261,999 7,204,078 Assets and liabilities recorded at fair value in the balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The categories are as follows: Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The following table summarizes fair value measurements by level at March 31, 2017 and December 31, 2016 for assets and liabilities measured at fair value on a recurring basis: March 31, 2017 Level I Level II Level III Total Marketable securities $ 8,992,980 $ - $ - $ 8,992,980 December 31, 2016 Level I Level II Level III Total Marketable securities $ 12,990,510 $ - $ - $ 12,990,510 Carrying amounts reported in the balance sheet of cash and cash equivalents, grants receivable, accounts payable and accrued expenses approximate fair value due to their relatively short maturity. The carrying amounts of the Company’s marketable securities are based on market quotations from national exchanges at the balance sheet date. Interest and dividend income are recognized separately on the income statement based on classifications provided by the brokerage firm holding the investments. The fair value of borrowings is not considered to be significantly different from its carrying amount because the stated rates for such debt reflect current market rates and conditions. The Company accounts for some of its warrants issued in accordance with the guidance on Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, which provides that the Company must classify the warrant instrument as a liability at its fair value and adjust the instrument to fair value at each reporting period. The fair value of warrants is estimated by management using the Black-Scholes option-pricing model. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized as a component of other income or expense. Management has determined the value of the warrant liability to be insignificant at March 31, 2017, and no such liability has been reflected on the balance sheet. In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs . Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statement presentation or disclosures. For a more detailed listing of the Company’s significant accounting policies, see Note 1 – “Organization and Summary of Significant Accounting Policies,” of the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on March 16, 2017.

LOAN PAYABLE

LOAN PAYABLE	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	2. LOAN PAYABLE Pursuant to the terms of the CIRM Loan Agreement, CIRM agreed to disburse $ 19,782,136 70 75 Under the CIRM Loan Agreement, Capricor is required to repay the CIRM loan with interest at the end of the loan period. The loan also provides for the payment of a risk premium whereby Capricor is required to pay CIRM a premium of up to 500 2 1 5 Under the terms of the CIRM Loan Agreement, if Capricor is not in default, the loan may be forgiven during the term of the project period if Capricor abandons the trial due to the occurrence of a no-go milestone. After the end of the project period, the loan may also be forgiven if Capricor elects to abandon the project under certain circumstances. Under the terms of the CIRM Loan Agreement, Capricor is required to meet certain financial milestones by demonstrating to CIRM prior to each disbursement of loan proceeds that it has sufficient funds available to cover all costs and expenses anticipated to be required to continue Phase II of the ALLSTAR trial for at least the following 12-month period, less the costs budgeted to be covered by planned loan disbursements. Capricor did not issue stock, warrants or other equity to CIRM in connection with this loan award. Additionally, on September 30, 2015, the Company entered into a Joinder Agreement with Capricor and CIRM, pursuant to which, among other things, the Company agreed to become a loan party under the CIRM Loan Agreement and to be jointly and severally responsible with Capricor for the performance of, and to be bound by the obligations and liabilities under, the CIRM Loan Agreement, subject to the rights and benefits afforded to a loan recipient thereunder. In addition to the foregoing, the timing of the distribution of funds pursuant to the CIRM Loan Agreement shall be contingent upon the availability of funds in the California Stem Cell Research and Cures Fund in the California State Treasury, as determined by CIRM in its sole discretion. The due diligence costs are recorded as a discount on the loan and amortized to general and administrative expenses over the remaining term of the loan. As of March 31, 2017, $ 30,000 4,561 In 2013, Capricor received disbursements pursuant to the terms of the CIRM Loan Agreement of $ 3,925,066 2.5 2.8 In 2014, Capricor received disbursements pursuant to the terms of the CIRM Loan Agreement of $ 5,194,124 2.6 In 2016, Capricor received disbursements pursuant to the terms of the CIRM Loan Agreement of $ 4,750,000 3.2 3.4 For the three months ended March 31, 2017 and 2016, interest expense under the CIRM loan was approximately $ 105,320 65,789 13,905,857

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2017
Stockholders Equity Note [Abstract]
Stockholders Equity Note Disclosure [Text Block]	STOCKHOLDERS’ EQUITY Common Stock Sales Agreement On March 31, 2017, the Company entered into the Sales Agreement with Wainwright, under which the Company may, from time to time, issue and sell shares of its common stock through Wainwright as sales agent in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of up to $ 5.0 3.0 March 2016 Registered Direct Offering On March 16, 2016, the Company issued and sold to certain investors an aggregate of 1,692,151 2.40 4,060,000 0.1 3.9 In connection with the sale of shares of the Company’s common stock, on March 16, 2016, the Company also issued and sold to the investors, in a concurrent private placement, warrants to purchase up to an aggregate of 846,073 4.50 7.50 0.001 September 2016 Underwritten Public and Registered Direct Offering In September 2016, the Company completed an underwritten registered public offering and concurrent registered direct offering pursuant to which the Company issued an aggregate of 3,403,125 3.20 10,890,000 1.0 9.9 Outstanding Shares At March 31, 2017, the Company had 21,399,019

STOCK AWARDS, WARRANTS AND OPTI

STOCK AWARDS, WARRANTS AND OPTIONS	3 Months Ended
	Mar. 31, 2017
Stock Awards, Warrants and Options [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	4. STOCK AWARDS, WARRANTS AND OPTIONS Warrants Warrants Weighted Average Exercise Price Outstanding at January 1, 2017 1,081,903 $ 4.01 Granted - - Exercised - - Expired - - Outstanding at March 31, 2017 1,081,903 $ 4.01 At March 31, 2017 Grant Date Warrants Outstanding Exercise Price Expiration Date 4/4/2012 187 $ 2.27 4/4/2017 11/20/2013 235,643 $ 2.27 11/20/2018 3/16/2016 846,073 $ 4.50 3/16/2019 1,081,903 Stock Options The Company’s Board of Directors (the “Board”) has approved three stock option plans: (i) the 2006 Stock Option Plan, (ii) the 2012 Restated Equity Incentive Plan (which superseded the 2006 Stock Option Plan) (the “2012 Plan”), and (iii) the 2012 Non-Employee Director Stock Option Plan (the “2012 Non-Employee Director Plan”). At the time the merger between Capricor and Nile became effective, 4,149,710 100,000 On June 2, 2016 at the Company’s annual stockholder meeting, the stockholders approved a proposal to amend the 2012 Plan, to, among other things, increase the number of shares of common stock of the Company that may be issued under the 2012 Plan to equal the sum of 4,149,710 plus 2 2 4,474,809 325,099 427,980 At the time the merger between Capricor and Nile became effective, 2,697,311 Each of the Company’s stock option plans are administered by the Board, or a committee appointed by the Board, which determines the recipients and types of awards to be granted, as well as the number of shares subject to the awards, the exercise price and the vesting schedule. Currently, stock options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant, and generally vest over a period of one to four years. The term of stock options granted under each of the plans cannot exceed ten years. The estimated weighted average fair value of the options granted during the three months ended March 31, 2017 and 2016 were approximately $ 1.86 1.59 March 31, 2017 March 31, 2016 Expected volatility 78% - 81% 79% Expected term 5 - 7 years 7 years Dividend yield 0% 0% Risk-free interest rates 2.2% - 2.3% 1.5% - 1.7% Three months ended March 31, 2017 2016 General and administrative $ 301,222 $ 219,324 Research and development 170,568 71,262 Total $ 471,790 $ 290,586 Common stock, stock options or other equity instruments issued to non-employees (including consultants) as consideration for goods or services received by the Company are accounted for based on the fair value of the equity instruments issued (unless the fair value of the consideration received can be more reliably measured). The fair value of stock options is determined using the Black-Scholes option-pricing model and is periodically re-measured as the underlying options vest. The fair value of any options issued to non-employees is recorded as an expense over the applicable vesting periods. Number of Options Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding at January 1, 2017 6,608,382 $ 1.62 $ 6,874,063 Granted 603,131 2.59 Exercised - - Expired/Cancelled (31,417) 3.22 Outstanding at March 31, 2017 7,180,096 $ 1.69 $ 12,106,000 Exercisable at March 31, 2017 5,311,191 $ 1.12 $ 12,015,092 The aggregate intrinsic value represents the difference between the exercise price of the options and the estimated fair value of the Company’s common stock for each of the respective periods.

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2017
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	5. CONCENTRATIONS Cash Concentration The Company has historically maintained checking accounts at two financial institutions. These accounts are each insured by the Federal Deposit Insurance Corporation for up to $ 250,000 12.5

GOVERNMENT GRANT AWARDS

GOVERNMENT GRANT AWARDS	3 Months Ended
	Mar. 31, 2017
Award [Abstract]
Government Grant Awards Disclosure [Text Block]	6. GOVERNMENT GRANT AWARDS CIRM Grant Award (HOPE) On June 16, 2016, Capricor entered into a CIRM Award with CIRM in the amount of approximately $ 3.4 2.3 After completing the CIRM funded research project and after the award period end date, estimated to be in late 2017 or in 2018, Capricor has the right to convert the CIRM Award into a loan, the terms of which will be determined based on various factors, including the stage of the research and development of the program at the time the election is made. On June 20, 2016, Capricor entered into a Loan Election Agreement with CIRM whereby, among other things, CIRM and Capricor agreed that if converted, the term of the loan would be five years from the date of execution of the applicable loan agreement; provided that the term of the loan will not exceed ten years from the date on which the CIRM Award was granted. Beginning on the date of the loan, the loan shall bear interest on the unpaid principal balance plus the interest that was accrued prior to the election point according to the terms set forth in CIRM’s Loan Policy (the “New Loan Balance”) at a per annum rate equal to the LIBOR rate for a three-month deposit in U.S. dollars, as published by the Wall Street Journal on the loan date, plus one percent. Interest shall be compounded annually on the outstanding New Loan Balance commencing with the loan date and the interest shall be payable, together with the New Loan Balance, upon the due date of the loan. If Capricor elects to convert the CIRM Award into a loan, certain requirements of the CIRM Award will no longer be applicable, including the revenue sharing requirements. Capricor will not make its decision as to whether it will elect to convert the CIRM Award into a loan until after the end of the HOPE-Duchenne trial. Since Capricor may be required to repay some or all of the amounts awarded by CIRM, the Company will account for this award as a liability rather than income. If Capricor were to lose this funding, it may be required to delay, postpone, or cancel its HOPE-Duchenne trial or otherwise reduce or curtail its operations, unless it was able to obtain adequate financing for its clinical trial from alternative sources. In July 2016, Capricor received the first disbursement of $ 2.0 Additionally, in September 2016, the Company completed the first operational milestone which was tied to the completion of enrollment of the HOPE-Duchenne clinical trial for which $ 1.1 3.1 1.1 NIH Grant Award (DYNAMIC) In August 2013, Capricor was approved for a Phase IIB bridge grant through the National Institutes of Health (“NIH”) Small Business Innovation Research (“SBIR”) program for continued development of its CAP-1002 product candidate. Under the terms of the NIH grant, disbursements were made to Capricor over a period of approximately three years, in an aggregate amount of approximately $ 2.9 NIH Grant Award (HLHS) In September 2016, Capricor was approved for a grant from the NIH to study CAP-2003 (cardiosphere-derived cell exosomes) for hypoplastic left heart syndrome (HLHS). Under the terms of the NIH grant, disbursements will be made to Capricor in an amount up to approximately $ 4.2 U.S. Department of Defense Grant Award In September 2016, Capricor was approved for a grant award from the DoD in the amount of approximately $ 2.4 0.5

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	7. COMMITMENTS AND CONTINGENCIES Leases Capricor leases space for its corporate offices pursuant to a lease that was originally effective for a two-year period beginning July 1, 2013 with an option to extend the lease for an additional twelve months. The monthly lease payment was $ 16,620 17,285 17,957 21,420 22,111 22,995 23,915 24,872 Capricor entered into a facilities lease with Cedars-Sinai Medical Center (“CSMC”), a shareholder of the Company, for two research labs (the “Facilities Lease”). The Facilities Lease is for a term of three years commencing June 1, 2014 and replaces the month-to-month lease that was previously in effect between CSMC and Capricor. The monthly lease payment under the Facilities Lease was approximately $ 15,461 19,350 Unless renewed, each of the leases described above will not be in effect for fiscal year 2019. Included within the table below, future minimum rental payments to related parties totaled approximately $ 38,700 Years ended Operating Leases 2017 (9 months) $ 251,175 2018 292,722 Total minimum lease payments $ 543,897 Expense incurred under operating leases to unrelated parties was approximately $ 71,215 65,088 56,105 Legal Contingencies The Company is not party to any material legal proceedings at this time. From time to time, the Company may become involved in various legal proceedings that arise in the ordinary course of our business.

LICENSE AGREEMENTS

LICENSE AGREEMENTS	3 Months Ended
	Mar. 31, 2017
License Agreements [Abstract]
License Agreements [Text Block]	LICENSE AGREEMENTS Capricor’s Technology - CAP-1002, CAP-1001, CSps and Exosomes Capricor has entered into exclusive license agreements for intellectual property rights related to cardiac-derived cells with Università Degli Studi Di Roma La Sapienza (the “University of Rome”), The Johns Hopkins University (“JHU”) and CSMC. In addition, Capricor has filed patent applications related to enhancements or validation of the technology developed by its own scientists. University of Rome License Agreement Capricor and the University of Rome entered into a License Agreement, dated June 21, 2006 (the “Rome License Agreement”), which provides for the grant of an exclusive, world-wide, royalty-bearing license by the University of Rome to Capricor (with the right to sublicense) to develop and commercialize licensed products under the licensed patent rights in all fields. With respect to any new or future patent applications assigned to the University of Rome utilizing cardiac stem cells in cardiac care, Capricor has a first right of negotiation for a certain period of time to obtain a license thereto. Pursuant to the Rome License Agreement, Capricor paid the University of Rome a license issue fee, is currently paying minimum annual royalties in the amount of 20,000 The Rome License Agreement will, unless extended or sooner terminated, remain in effect until the later of the last claim of any patent or until any patent application comprising licensed patent rights has expired or been abandoned. Under the terms of the Rome License Agreement, either party may terminate the agreement should the other party become insolvent or file a petition in bankruptcy. Either party will have up to 90 days to cure its material breach. The Johns Hopkins University License Agreement Capricor and JHU entered into an Exclusive License Agreement, effective June 22, 2006 (the “JHU License Agreement”), which provides for the grant of an exclusive, world-wide, royalty-bearing license by JHU to Capricor (with the right to sublicense) to develop and commercialize licensed products and licensed services under the licensed patent rights in all fields and a nonexclusive right to the know-how. In May 2009, the JHU License Agreement was amended to add additional patent rights to the JHU License Agreement in consideration of a payment to JHU and reimbursement of patent costs. Capricor and JHU executed a Second Amendment to the JHU License Agreement, effective as of December 20, 2013, pursuant to which, among other things, certain definitions were added or amended, the timing of certain obligations was revised and other obligations of the parties were clarified. Pursuant to the JHU License Agreement, JHU was paid an initial license fee and, thereafter, Capricor is required to pay minimum annual royalties on the anniversary dates of the JHU License Agreement. The minimum annual royalties range from $ 5,000 20,000 100,000 1,000,000 1,850,000 The JHU License Agreement will, unless sooner terminated, continue in effect in each applicable country until the date of expiration of the last to expire patent within the patent rights, or, if no patents are issued, then for twenty years from the effective date. Under the terms of the JHU License Agreement, either party may terminate the agreement should the other party become insolvent or file a petition in bankruptcy, or fail to cure a material breach within 30 days after notice. In addition, Capricor may terminate for any reason upon 60 days’ written notice. Cedars-Sinai Medical Center License Agreements License Agreement for CDCs On January 4, 2010, Capricor entered into an Exclusive License Agreement with CSMC (the “Original CSMC License Agreement”) for certain intellectual property rights. In 2013, the Original CSMC License Agreement was amended twice resulting in, among other things, a reduction in the percentage of sublicense fees which would have been payable to CSMC. Effective December 30, 2013, Capricor entered into an Amended and Restated Exclusive License Agreement with CSMC (the “Amended CSMC License Agreement”), pursuant to which, among other things, certain definitions were added or amended, the timing of certain obligations was revised and other obligations of the parties were clarified. The Amended CSMC License Agreement provides for the grant of an exclusive, world-wide, royalty-bearing license by CSMC to Capricor (with the right to sublicense) to conduct research using the patent rights and know-how and develop and commercialize products in the field using the patent rights and know-how. In addition, Capricor has the exclusive right to negotiate for an exclusive license to any future rights arising from related work conducted by or under the direction of Dr. Eduardo Marbán on behalf of CSMC. In the event the parties fail to agree upon the terms of an exclusive license, Capricor will have a non-exclusive license to such future rights, subject to royalty obligations. Pursuant to the Original CSMC License Agreement, CSMC was paid a license fee and Capricor was obligated to reimburse CSMC for certain fees and costs incurred in connection with the prosecution of certain patent rights. Additionally, Capricor is required to meet certain spending and development milestones. The annual spending requirements range from $ 350,000 800,000 Pursuant to the Amended CSMC License Agreement, Capricor remains obligated to pay low single-digit royalties on sales of royalty-bearing products as well as a low double-digit percentage of the consideration received from any sublicenses or other grant of rights. The above-mentioned royalties are subject to reduction in the event Capricor becomes obligated to obtain a license from a third party for patent rights in connection with the royalty-bearing product. In 2010, Capricor discontinued its research under some of the patents. The Amended CSMC License Agreement will, unless sooner terminated, continue in effect on a country by country basis until the last to expire of the patents covering the patent rights or future patent rights. Under the terms of the Amended CSMC License Agreement, unless waived by CSMC, the agreement shall automatically terminate: (i) if Capricor ceases, dissolves or winds up its business operations; (ii) in the event of the insolvency or bankruptcy of Capricor or if Capricor makes an assignment for the benefit of its creditors; (iii) if performance by either party jeopardizes the licensure, accreditation or tax exempt status of CSMC or the agreement is deemed illegal by a governmental body; (iv) within 30 days for non-payment of royalties; (v) within 90 days if Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights; (vi) if a material breach has not been cured within 90 days; or (vii) if Capricor challenges any of the CSMC patent rights. Capricor may terminate the agreement if CSMC fails to cure any material breach within 90 days after notice. On March 20, 2015, Capricor and CSMC entered into a First Amendment to the Amended CSMC License Agreement, pursuant to which the parties agreed to delete certain patent applications from the list of Scheduled Patents which Capricor determined not to be material to the portfolio. On August 5, 2016, Capricor and CSMC entered into a Second Amendment to the Amended CSMC License Agreement (the “Second License Amendment”), pursuant to which the parties agreed to add certain patent families to the schedule of patent rights set forth in the agreement. Under the Second License Amendment, (i) the description of patent rights in Schedule A has been replaced by a Revised Schedule A that includes two additional patent family applications; (ii) Capricor paid an upfront fee of $ 2,500 10,000 License Agreement for Exosomes On May 5, 2014, Capricor entered into an Exclusive License Agreement with CSMC (the “Exosomes License Agreement”) for certain intellectual property rights related to exosomes technology. The Exosomes License Agreement provides for the grant of an exclusive, world-wide, royalty-bearing license by CSMC to Capricor (with the right to sublicense) in order to conduct research using the patent rights and know-how and to develop and commercialize products in the field using the patent rights and know-how. In addition, Capricor has the exclusive right to negotiate for an exclusive license to any future rights arising from related work conducted by or under the direction of Dr. Eduardo Marbán on behalf of CSMC. In the event the parties fail to agree upon the terms of an exclusive license, Capricor shall have a non-exclusive license to such future rights, subject to royalty obligations. Pursuant to the Exosomes License Agreement, CSMC was paid a license fee and Capricor reimbursed CSMC for certain fees and costs incurred in connection with the prosecution of certain patent rights. Additionally, Capricor is required to meet certain non-monetary development milestones and is obligated to pay low single-digit royalties on sales of royalty-bearing products as well as a single-digit percentage of the consideration received from any sublicenses or other grant of rights. The above-mentioned royalties are subject to reduction in the event Capricor becomes obligated to obtain a license from a third party for patent rights in connection with the royalty bearing product. The Exosomes License Agreement will, unless sooner terminated, continue in effect on a country by country basis until the last to expire of the patents covering the patent rights or future patent rights. Under the terms of the Exosomes License Agreement, unless waived by CSMC, the agreement shall automatically terminate: (i) if Capricor ceases, dissolves or winds up its business operations; (ii) in the event of the insolvency or bankruptcy of Capricor or if Capricor makes an assignment for the benefit of its creditors; (iii) if performance by either party jeopardizes the licensure, accreditation or tax exempt status of CSMC or the agreement is deemed illegal by a governmental body; (iv) within 30 days for non-payment of royalties; (v) within 90 days if Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights; (vi) if a material breach has not been cured within 90 days; or (vii) if Capricor challenges any of the CSMC patent rights. Capricor may terminate the agreement if CSMC fails to cure any material breach within 90 days after notice. On February 27, 2015, Capricor and CSMC entered into a First Amendment to Exosomes License Agreement (the “First Exosomes License Amendment”). Under the First Exosomes License Amendment, (i) the description of patent rights in Schedule A has been replaced by a Revised Schedule A that includes four additional patent applications; (ii) Capricor was required to pay CSMC an upfront fee of $ 20,000 34,000 15,000 75,000 190,000 On June 10, 2015, Capricor and CSMC entered into a Second Amendment to Exosomes License Agreement, thereby amending the Exosomes License Agreement further to add an additional patent application to the Schedule of Patent Rights. On August 5, 2016, Capricor and CSMC entered into a Third Amendment to the Exosomes License Agreement (the “Third Exosomes License Amendment”), pursuant to which the parties agreed to add certain patent families to the schedule of patent rights under the agreement. Under the Third Exosomes License Amendment, (i) the description of patent rights in Schedule A has been replaced by a Revised Schedule A that includes two additional patent family applications; (ii) Capricor paid CSMC an upfront fee of $ 2,500 16,000 Collaboration Agreement with Janssen Biotech, Inc. On December 27, 2013, Capricor entered into a Collaboration Agreement and Exclusive License Option (the “Janssen Agreement”) with Janssen, a wholly-owned subsidiary of Johnson & Johnson. Under the terms of the Janssen Agreement, Capricor and Janssen agreed to collaborate on the development of Capricor’s cell therapy program for cardiovascular applications, including its lead product candidate, CAP-1002. Capricor and Janssen further agreed to collaborate on the development of cell manufacturing in preparation for future clinical trials. Under the Janssen Agreement, Capricor was paid $ 12.5 CAP-1002 as well as certain allogeneic cardiospheres (“CSps”) and cardiosphere-derived cells (“CDCs”) 325.0 Company Technology – Cenderitide and CU-NP The Company entered into an exclusive license agreement for intellectual property rights related to natriuretic peptides with the Mayo Foundation for Medical Education and Research (“Mayo”), a Clinical Trial Funding Agreement with Medtronic, Inc. (“Medtronic”), and a Transfer Agreement with Medtronic, all of which also include certain intellectual property licensing provisions. Mayo License Agreement The Company and Mayo previously entered into a Technology License Agreement with respect to Cenderitide on January 20, 2006, which was filed as Exhibit 10.6 to the Company’s Current Report on Form 8-K filed with the SEC on September 21, 2007, and which was amended on June 2, 2008 (as so amended, the “CD-NP Agreement”). On June 13, 2008, the Company and Mayo entered into a Technology License Agreement with respect to CU-NP (the “CU-NP Agreement”), which was filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed with the SEC on August 14, 2008. On November 14, 2013, the Company entered into an Amended and Restated License Agreement with Mayo (the “Amended Mayo Agreement”). The Amended Mayo Agreement amended and restated in its entirety each of the CD-NP Agreement and the CU-NP Agreement, and created a single amended and restated license agreement between the Company and Mayo with respect to CD-NP and CU-NP. On February 13, 2017, the Company provided Mayo with a notice of termination of the Amended Mayo Agreement pursuant to Section 7.03 of the Amended Mayo Agreement, thereby relinquishing all rights previously licensed by Mayo to Capricor with respect to CD-NP and CU-NP. The Company provided 90 days’ notice of the effectiveness of termination, but Mayo had indicated to the Company that it considered the Amended Mayo Agreement to be terminated as of February 14, 2017 due to an ongoing dispute with Mayo regarding the payment of certain fees incurred in the prosecution of the intellectual property rights licensed by Mayo to the Company, which fees the Company does not deem to be material in amount. The Company elected to terminate the Amended Mayo Agreement so we may focus our resources and efforts on our CAP-1002 and CAP-2003 programs. Medtronic Clinical Trial Funding Agreement In February 2011, the Company entered into a Clinical Trial Funding Agreement with Medtronic. Pursuant to the agreement, Medtronic provided funding and equipment necessary for the Company to conduct a Phase I clinical trial to assess the pharmacokinetics and pharmacodynamics of Cenderitide when delivered to heart failure patients through continuous subcutaneous infusion using Medtronic’s pump technology. The agreement provided that intellectual property conceived in or otherwise resulting from the performance of the Phase I clinical trial will be jointly owned by the Company and Medtronic (the “Joint Intellectual Property”), and that the Company is to pay royalties to Medtronic based on the net sales of a product covered by the Joint Intellectual Property. The agreement further provided that, if the parties fail to enter into a definitive commercial license agreement with respect to Cenderitide, each party will have a right of first negotiation to license exclusive rights to any Joint Intellectual Property. Pursuant to its terms, the agreement expired in February 2012, following the completion of the Phase I clinical trial and the delivery of data and reports related to such study. Although the Medtronic agreement expired, there are certain provisions that survive the expiration of the agreement, including the obligation to pay royalties on products that might be covered by the Joint Intellectual Property. The Company and Medtronic subsequently entered into a Transfer Agreement, described below. Medtronic Transfer Agreement On October 8, 2014, the Company entered into a Transfer Agreement (the “Transfer Agreement”) with Medtronic to acquire patent rights relating to the formulation and pump delivery of natriuretic peptides. Pursuant to the Transfer Agreement, Medtronic assigned to the Company all of its right, title and interest in all natriuretic peptide patents and patent applications previously owned by Medtronic or co-owned by Medtronic and the Company (the “Natriuretic Peptide Patents”). Under the Transfer Agreement, the Company received all rights to the Natriuretic Peptide Patents, including the right to grant licenses and to make assignments without approval from Medtronic. The Transfer Agreement became effective on October 8, 2014 and will expire simultaneously with the expiration of the last to expire of the valid claims. Both parties have the right to terminate the Transfer Agreement upon 30 days written notice to the other party in the event of a default which has not been cured within such 30-day period. In addition, Medtronic had the right to terminate the Transfer Agreement and to have the rights to the Natriuretic Peptide Patents reassigned to it by the Company if either the Company, an affiliate, or a non-party licensee failed to commence a clinical trial of a CD-NP product within 18 months from the effective date. Such condition was satisfied when the Company initiated its clinical trial of Cenderitide in January 2015. In the event of a termination of the Transfer Agreement, (i) the Natriuretic Peptide Patents which were not owned or co-owned by the Company prior to the effective date of the Transfer Agreement shall be assigned back to Medtronic; (ii) the Company’s rights in the Natriuretic Peptide Patents that were co-owned by Capricor pursuant to the Clinical Trial Funding Agreement will remain with the Company, subject to the surviving terms and provisions thereof; and (iii) the Company shall assign back to Medtronic those rights that were co-owned by Medtronic pursuant to the Clinical Trial Funding Agreement. Pursuant to the Transfer Agreement, Medtronic was paid an upfront payment of $ 100,000 7.0 In light of our decision to terminate our development program with respect to natriuretic peptides, the Company is now considering whether or not to cease prosecution of some or all of the Natriuretic Peptide Patents and has offered to reassign to Medtronic rights to certain patent applications obtained through the Transfer Agreement.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	9. RELATED PARTY TRANSACTIONS Lease and Sub-Lease Agreements As noted above, Capricor is a party to lease agreements with CSMC, which holds more than 10% of the outstanding capital stock of Capricor Therapeutics (see Note 7 – “Commitments and Contingencies”), and CSMC has served and continues to serve as an investigative site in Capricor’s clinical trials. Additionally, Dr. Eduardo Marbán, who holds more than 10% of the outstanding capital stock of Capricor Therapeutics and participates as an observer at the Company’s meetings of the Board of Directors, is the Director of the Cedars-Sinai Heart Institute, a Co-Founder of Capricor and the Chairman of the Company’s Scientific Advisory Board. On April 1, 2013, Capricor entered into a sublease with Reprise Technologies, LLC, a limited liability company which is wholly owned by Dr. Frank Litvack, the Company’s Executive Chairman and member of its Board of Directors, for $ 2,500 7,500 Consulting Agreements Effective January 1, 2013, Frank Litvack, the Company’s Executive Chairman and a member of its Board of Directors, entered into an oral Consulting Agreement with Capricor whereby Capricor agreed to pay Dr. Litvack fees of $10,000 per month for consulting services. 1,500 Payables to Related Party At March 31, 2017 and December 31, 2016, the Company had accounts payable and accrued expenses to related parties totaling $ 109,796 489,217 107,296 477,907 Related Party Clinical Trials Capricor has agreed to provide cells for investigational purposes in two clinical trials sponsored by CSMC, subject to final documentation. The first trial is known as “Regression of Fibrosis and Reversal of Diastolic Dysfunction in HFpEF Patients Treated with Allogeneic CDCs.” Dr. Eduardo Marbán is the named principal investigator under the study. The second trial is known as “Pulmonary Arterial Hypertension treated with Cardiosphere-derived Allogeneic Stem Cells.” In both studies, Capricor will provide the necessary number of doses and will receive a negotiated amount of monetary compensation therefor.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	10. SUBSEQUENT EVENTS May 2017 Financing On May 5, 2017, the Company entered into Subscription Agreements with certain accredited investors (the “Investors”), pursuant to which the Company agreed to issue and sell to the investors, in a private placement (the “Private Placement”), an aggregate of 1,196,291 0.001 3.10 3.7 In connection with the Private Placement, the Company also entered into a Registration Rights Agreement with the Investors. Pursuant to the terms of the Registration Rights Agreement, the Company is obligated (i) to prepare and file with the SEC a registration statement to register for resale the shares issued in the Private Placement, and (ii) to use its reasonable best efforts to cause the registration statement to be declared effective by the SEC as soon as practicable, in each case subject to certain deadlines. The Company will be required to pay to each Investor liquidated damages equal to 1.0% of the aggregate purchase price paid by such Investor pursuant to the Subscription Agreements for the shares per month (up to a cap of 10.0%) if it does not meet certain obligations with respect to the registration of the shares, subject to certain conditions. Common Stock Sales Agreement As of the date of filing of this quarterly report on Form 10-Q, no shares have been sold by the Company pursuant to the ATM Program.

ORGANIZATION AND SUMMARY OF S17

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Description Of Business [Policy Text Block]	Description of Business The mission of Capricor Therapeutics, Inc., a Delaware corporation (referred to herein as “Capricor Therapeutics” or the “Company”), is to develop innovative therapies for diseases focusing on cardiovascular diseases as well as exploring other indications. Capricor, Inc. (“Capricor”), a privately-held company and a wholly-owned subsidiary of Capricor Therapeutics, was founded in 2005 as a Delaware corporation based on the innovative work of its founder, Eduardo Marbán, M.D., Ph.D. After completion of a merger between Capricor and a subsidiary of Nile Therapeutics, Inc., a Delaware corporation (“Nile”), on November 20, 2013, Capricor became a wholly-owned subsidiary of Nile and Nile formally changed its name to Capricor Therapeutics, Inc. Capricor Therapeutics and its subsidiary, Capricor, together have four drug candidates, two of which are in various stages of active
Basis of Presentation and Significant Accounting Policies [Policy Text Block]	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements for Capricor Therapeutics and its wholly-owned subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP. In the Company’s opinion, all adjustments, consisting of normal and recurring adjustments, considered necessary for a fair presentation have been included. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (“SEC”) on March 16, 2017, from which the December 31, 2016 consolidated balance sheet has been derived. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.
Consolidation, Policy [Policy Text Block]	Basis of Consolidation Our condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation.
Liquidity [Policy Text Block]	Liquidity The Company has historically financed its research and development activities as well as operational expenses from equity financings, government grants, a payment from Janssen Biotech, Inc. (“Janssen”) pursuant to a Collaboration Agreement with Janssen and a loan award and a grant from the California Institute for Regenerative Medicine (“CIRM”). Cash, cash equivalents and marketable securities as of March 31, 2017 were approximately $ 11.7 16.2 0.001 5.0 In May 2017, the Company entered into Subscription Agreements with certain accredited investors, pursuant to which the Company issued an aggregate of 1,196,291 3.10 3.7 Under the terms of the Company’s ALLSTAR Loan Award with CIRM (see Note 2 – “Loan Payable”), Capricor received $ 4.8 3.4 2.3 3.1 2.4 4.2 The Company’s principal uses of cash are for research and development expenses, general and administrative expenses, capital expenditures and other working capital requirements. The Company’s future expenditures and capital requirements may be substantial and will depend on many factors, including, but not limited to, the following: ⋅ the timing and costs associated with the manufacturing of its product candidates; ⋅ the timing and costs associated with commercialization of its product candidates; ⋅ the timing and costs associated with its clinical trials and preclinical studies; ⋅ the number and scope of its research programs; and ⋅ the costs involved in prosecuting and enforcing patent claims and other intellectual property rights. The Company’s cash requirements are expected to continue to increase as it advances its research, development and commercialization programs, and the Company expects to seek additional financing primarily from, but not limited to, the sale and issuance of equity or debt securities, the licensing or sale of its technology and from government grants. The Company cannot provide assurances that financing will be available when and as needed or that, if available, financing will be available on favorable or acceptable terms or at all. If the Company is unable to obtain additional financing when and if required, it would have a material adverse effect on the Company’s business and results of operations and the Company could be required to reduce expenses and curtail operations. To the extent the Company issues additional equity securities, its existing stockholders could experience substantial dilution.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. The most sensitive estimates relate to the period over which collaboration revenue is recognized, recoverability and fair value of intangible assets, and the assumptions used to estimate stock-based compensation expense. Management uses its historical records and knowledge of its business in making these estimates. Accordingly, actual results may differ from these estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. March 31, March 31, 2017 2016 Cash and cash equivalents $ 2,750,473 $ 11,766,454 Restricted cash 1,125,830 - Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 3,876,303 $ 11,766,454 The Company has two awards with CIRM designated for specific use, a Loan Agreement with CIRM (the “CIRM Loan Agreement”) entered into on February 5, 2013 (see Note 2 – “Loan Payable”) in connection with the ALLSTAR Phase II clinical trial and the CIRM Award (see Note 6 – “Government Grant Awards”) related to the HOPE Phase I/II clinical trial. Restricted cash represents funds received under these awards which are to be allocated to the research costs as incurred. Generally, a reduction of restricted cash occurs when the Company deems certain costs are attributable to the respective award. The restricted cash balance was approximately $ 1.1 1.3
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block]	Marketable Securities The Company determines the appropriate classification of its marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. All of the Company’s marketable securities are considered as available-for-sale and carried at estimated fair values. Realized gains and losses on the sale of debt and equity securities are determined using the specific identification method. Unrealized gains and losses on available-for-sale securities are excluded from net income and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Repairs and maintenance costs are expensed in the period incurred. Depreciation is computed using the straight-line method over the related estimated useful life of the asset, which such estimated useful lives range from five to seven years. Leasehold improvements are depreciated on a straight-line basis over the shorter of the useful life of the asset or the lease term. Depreciation was approximately $ 26,584 19,417 March 31, December 31, 2017 2016 Furniture and fixtures $ 51,161 $ 51,161 Laboratory equipment 590,935 587,809 Leasehold improvements 47,043 47,043 689,139 686,013 Less accumulated depreciation (277,262) (250,677) Property and equipment, net $ 411,877 $ 435,336
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Amounts attributable to intellectual property consist primarily of the costs associated with the acquisition of certain technologies, patents, pending patents and related intangible assets with respect to research and development activities. Certain intellectual property assets are stated at cost and are amortized on a straight-line basis over the respective estimated useful lives of the assets ranging from five to fifteen years. Also, the Company recorded capitalized loan fees as a component of intangible assets on the consolidated balance sheet (see Note 2 – “Loan Payable”). Total amortization expense was approximately $ 12,187 Years ended Amortization Expense 2017 (9 months) $ 36,562 2018 43,733 2019 43,276 2020 4,330 Thereafter 2,165 As a result of the merger in 2013 between Capricor and Nile, the Company recorded $ 1.5 Business Combinations 1.5
Government Research Grants [Policy Text Block]	Government Research Grants Generally, government research grants that provide funding for research and development activities are recognized as income when the related expenses are incurred, as applicable. Because the terms of the CIRM Award allow Capricor to elect to convert the grant into a loan at the end of the project period, the CIRM Award is being classified as a liability rather than income (see Note 6 - “Government Grant Awards”).
Income from Collaborative Agreement [Policy Text Block]	Income from Collaboration Agreement Revenue from nonrefundable, up-front license or technology access payments under license and collaborative arrangements that are not dependent on any future performance by the Company is recognized when such amounts are earned. If the Company has continuing obligations to perform under the arrangement, such fees are recognized over the estimated period of the continuing performance obligation. The Company accounts for multiple element arrangements, such as license and development agreements in which a customer may purchase several deliverables, in accordance with FASB ASC Subtopic 605-25, Multiple Element Arrangements The Company determined that the deliverables under its Collaboration Agreement with Janssen (see Note 8 – “License Agreements”) did not meet the criteria to be considered separate accounting units for the purposes of revenue recognition. As a result, the Company recognizes revenue from non-refundable, upfront fees ratably over the term of its performance under the agreement with Janssen. The upfront payments received, pending recognition as revenue, are recorded as deferred revenue and are classified as a short-term or long-term liability on the consolidated balance sheets of the Company and amortized over the estimated period of performance. The Company periodically reviews the estimated performance period of its contract based on the estimated progress of its project.
Loan Payable [Policy Text Block]	Loan Payable The Company accounts for the funds advanced under the CIRM Loan Agreement (see Note 2 – “Loan Payable”) as a loan payable as the eventual repayment of the loan proceeds or forgiveness of the loan is contingent upon certain future milestones being met and other conditions. As the likelihood of whether or not the Company will ever achieve these milestones or satisfy these conditions cannot be reasonably predicted at this time, the Company records these amounts as a loan payable.
Lease, Policy [Policy Text Block]	Rent Rent expense for the Company’s leases, which generally have escalating rental amounts over the term of the lease, is recorded on a straight-line basis over the lease term. The difference between the rent expense and rent paid has been recorded as deferred rent in the consolidated balance sheet accounts payable and accrued expenses, related party. Rent is amortized on a straight-line basis over the term of the applicable lease, without consideration of renewal options.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs relating to the design and development of new products are expensed as research and development as incurred in accordance with FASB ASC 730-10, Research and Development 3.3 4.3
Comprehensive Income loss [Policy Text Block]	Comprehensive Income (Loss) Comprehensive income (loss) generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company’s comprehensive loss was approximately $ 3.7 4.3 6,187 (6,157)
Compensation Related Costs, Policy [Policy Text Block]	Stock-Based Compensation The Company accounts for stock-based employee compensation arrangements in accordance with guidance issued by the FASB, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, consultants, and directors based on estimated fair values. The Company estimates the fair value of stock-based compensation awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s statements of operations. The Company estimates the fair value of stock-based compensation awards using the Black-Scholes model. This model requires the Company to estimate the expected volatility and value of its common stock and the expected term of the stock options, all of which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected stock option exercise behavior. The Company calculates an average of historical volatility of similar companies as a basis for its expected volatility. Expected term is computed using the simplified method provided within Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 110. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the options.
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Loss per Share Basic loss per share is computed using the weighted-average number of common shares outstanding during the period. Diluted loss per share is computed using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares, which primarily consist of stock options issued to employees, consultants and directors as well as warrants issued to third parties, have been excluded from the diluted loss per share calculation because their effect is anti-dilutive. For the three months ended March 31, 2017 and 2016, warrants and options to purchase 8,261,999 7,204,078
Fair Value Measurement, Policy [Policy Text Block]	Assets and liabilities recorded at fair value in the balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The categories are as follows: Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. March 31, 2017 Level I Level II Level III Total Marketable securities $ 8,992,980 $ - $ - $ 8,992,980 December 31, 2016 Level I Level II Level III Total Marketable securities $ 12,990,510 $ - $ - $ 12,990,510 Carrying amounts reported in the balance sheet of cash and cash equivalents, grants receivable, accounts payable and accrued expenses approximate fair value due to their relatively short maturity. The carrying amounts of the Company’s marketable securities are based on market quotations from national exchanges at the balance sheet date. Interest and dividend income are recognized separately on the income statement based on classifications provided by the brokerage firm holding the investments. The fair value of borrowings is not considered to be significantly different from its carrying amount because the stated rates for such debt reflect current market rates and conditions.
Warrant Liability [Policy Text Block]	Warrant Liability The Company accounts for some of its warrants issued in accordance with the guidance on Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, which provides that the Company must classify the warrant instrument as a liability at its fair value and adjust the instrument to fair value at each reporting period. The fair value of warrants is estimated by management using the Black-Scholes option-pricing model. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized as a component of other income or expense. Management has determined the value of the warrant liability to be insignificant at March 31, 2017, and no such liability has been reflected on the balance sheet.
New Accounting Pronouncements, Policy [Policy Text Block]	In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs . Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statement presentation or disclosures. For a more detailed listing of the Company’s significant accounting policies, see Note 1 – “Organization and Summary of Significant Accounting Policies,” of the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on March 16, 2017.

ORGANIZATION AND SUMMARY OF S18

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Schedule Of Cash And Cash Equivalents And Restricted Cash [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows. March 31, March 31, 2017 2016 Cash and cash equivalents $ 2,750,473 $ 11,766,454 Restricted cash 1,125,830 - Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 3,876,303 $ 11,766,454
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following as of March 31, 2017 and December 31, 2016: March 31, December 31, 2017 2016 Furniture and fixtures $ 51,161 $ 51,161 Laboratory equipment 590,935 587,809 Leasehold improvements 47,043 47,043 689,139 686,013 Less accumulated depreciation (277,262) (250,677) Property and equipment, net $ 411,877 $ 435,336
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	A summary of future amortization expense as of March 31, 2017 is as follows: Years ended Amortization Expense 2017 (9 months) $ 36,562 2018 43,733 2019 43,276 2020 4,330 Thereafter 2,165
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	March 31, 2017 Level I Level II Level III Total Marketable securities $ 8,992,980 $ - $ - $ 8,992,980 December 31, 2016 Level I Level II Level III Total Marketable securities $ 12,990,510 $ - $ - $ 12,990,510

STOCK AWARDS, WARRANTS AND OP19

STOCK AWARDS, WARRANTS AND OPTIONS (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Employee and non-employee stock-based compensation expense for the three months ended March 31, 2017 and 2016 was as follows: Three months ended March 31, 2017 2016 General and administrative $ 301,222 $ 219,324 Research and development 170,568 71,262 Total $ 471,790 $ 290,586
Warrant
Schedule Of Warrant Activity [Table Text Block]	The following table summarizes all warrant activity for the period ended March 31, 2017: Warrants Weighted Average Exercise Price Outstanding at January 1, 2017 1,081,903 $ 4.01 Granted - - Exercised - - Expired - - Outstanding at March 31, 2017 1,081,903 $ 4.01
Schedule of Stockholders Equity Note, Warrants or Rights [Table Text Block]	The following table summarizes all outstanding warrants to purchase shares of the Company’s common stock as of March 31, 2017: At March 31, 2017 Grant Date Warrants Outstanding Exercise Price Expiration Date 4/4/2012 187 $ 2.27 4/4/2017 11/20/2013 235,643 $ 2.27 11/20/2018 3/16/2016 846,073 $ 4.50 3/16/2019 1,081,903
Stock Options
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The Company estimates the fair value of each option award using the Black-Scholes option-pricing model. The Company used the following assumptions to estimate the fair value of stock options issued during the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 Expected volatility 78% - 81% 79% Expected term 5 - 7 years 7 years Dividend yield 0% 0% Risk-free interest rates 2.2% - 2.3% 1.5% - 1.7%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following is a schedule summarizing employee and non-employee stock option activity for the three months ended March 31, 2017: Number of Options Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding at January 1, 2017 6,608,382 $ 1.62 $ 6,874,063 Granted 603,131 2.59 Exercised - - Expired/Cancelled (31,417) 3.22 Outstanding at March 31, 2017 7,180,096 $ 1.69 $ 12,106,000 Exercisable at March 31, 2017 5,311,191 $ 1.12 $ 12,015,092

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	A summary of future minimum rental payments required under operating leases as of March 31, 2017 is as follows: Years ended Operating Leases 2017 (9 months) $ 251,175 2018 292,722 Total minimum lease payments $ 543,897

ORGANIZATION AND SUMMARY OF S21

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Cash and cash equivalents	$ 2,750,473	$ 3,204,378	$ 11,766,454
Restricted cash	1,125,830	$ 1,347,225	0
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 3,876,303		$ 11,766,454

ORGANIZATION AND SUMMARY OF S22

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment, Gross	$ 689,139	$ 686,013
Less accumulated depreciation	(277,262)	(250,677)
Property and equipment, net	411,877	435,336
Furniture and fixtures [Member]
Property, Plant and Equipment, Gross	51,161	51,161
Laboratory equipment [Member]
Property, Plant and Equipment, Gross	590,935	587,809
Leasehold improvements [Member]
Property, Plant and Equipment, Gross	$ 47,043	$ 47,043

ORGANIZATION AND SUMMARY OF S23

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	Mar. 31, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
2017 (9 months)	$ 36,562
2,018	43,733
2,019	43,276
2,020	4,330
Thereafter	$ 2,165

ORGANIZATION AND SUMMARY OF S24

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 8,992,980	$ 12,990,510
Level 1[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	8,992,980	12,990,510
Level 2[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 0	$ 0

ORGANIZATION AND SUMMARY OF S25

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	May 05, 2017	Jul. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 16, 2016
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share			$ 0.001		$ 0.001
Research and Development Expense, Total			$ 3,257,149	$ 4,341,119
Cash, Cash Equivalents, and Marketable Securities			$ 11,700,000		$ 16,200,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			8,261,999	7,204,078
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			$ (3,660,430)	$ (4,272,498)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax			6,187	(6,157)
Amortization of Intangible Assets			12,187	12,187
Depreciation			26,584	19,417
Other Intangible Assets, Net					1,500,000
Proceeds from Issuance of Long-term Debt, Total			0	$ 1,000,000
Restricted Cash and Cash Equivalents			1,100,000		1,300,000
Impairment of Intangible Assets (Excluding Goodwill)					1,500,000
NIH Grant Award HLHS [Member]
Accounting Policies [Line Items]
Maximum Amount Approved for Grant Award						$ 4,200,000
California Institute for Regenerative Medicine [Member]
Accounting Policies [Line Items]
Approved For Grant Award							$ 3,400,000
Minimum Expected Contribution Towards This Project			2,300,000		2,300,000
Proceeds from Issuance of Long-term Debt, Total		$ 2,000,000			3,100,000
Proceeds from Issuance of Other Long-term Debt					$ 4,800,000
Restricted Cash and Cash Equivalents			$ 1,100,000
U.S. Department of Defense [Member]
Accounting Policies [Line Items]
Approved For Grant Award						$ 2,400,000
ATM Program [Member]
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share			$ 0.001
Common Stock Sales Agreement, Maximum Amount To Be Issued			$ 5,000,000
Subsequent Event [Member] | Subscription Agreements [Member]
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.001
Stock Issued During Period, Shares, New Issues	1,196,291
Shares Issued, Price Per Share	$ 3.10
Stock Issued During Period, Value, New Issues	$ 3,700,000

LOAN PAYABLE (Details Textual)

LOAN PAYABLE (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2013
LOAN PAYABLE [Line Items]
Deferred Finance Costs, Noncurrent, Net	$ 30,000
Proceeds from loan payable	0	$ 1,000,000
Interest expense	105,320	66,125
Long Term Loans Payable	13,905,857		$ 13,905,857
Proceeds from Issuance of Long-term Debt, Total	$ 0	$ 1,000,000
Minimum [Member]
LOAN PAYABLE [Line Items]
Amount Available Under Loan Agreement, Expected Borrowing Percentage	70.00%
Maximum [Member]
LOAN PAYABLE [Line Items]
Amount Available Under Loan Agreement, Expected Borrowing Percentage	75.00%
CIRM Loan Agreement [Member]
LOAN PAYABLE [Line Items]
Maximum Payback Percentage of Loan Amount to be Paid upon Achievement of Certain Revenue Thresholds	500.00%
Base Rate for Computation of Interest Rate	2.00%
Increase In Base Rate after Fifth Year for Computation of Interest Rate	1.00%
Maximum Increase In Base Rate in Tenth Year for Computation of Interest Rate	5.00%
Deferred Finance Costs, Noncurrent, Net	$ 4,561
Proceeds from loan payable			4,750,000	$ 5,194,124	$ 3,925,066
Debt Instrument, Interest Rate, Effective Percentage				2.60%
Amount Awarded Under Loan Agreement	19,782,136
Long Term Loans Payable	$ 13,905,857
Proceeds from Issuance of Long-term Debt, Total			$ 4,750,000	$ 5,194,124	$ 3,925,066
CIRM Loan Agreement [Member] | Minimum [Member]
LOAN PAYABLE [Line Items]
Debt Instrument, Interest Rate, Effective Percentage			3.20%		2.50%
CIRM Loan Agreement [Member] | Maximum [Member]
LOAN PAYABLE [Line Items]
Debt Instrument, Interest Rate, Effective Percentage			3.40%		2.80%

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	1 Months Ended			3 Months Ended
	Mar. 31, 2017	Sep. 30, 2016	Mar. 16, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Class of Stock [Line Items]
Common Stock Shares Issued	21,399,019			21,399,019		21,399,019
Proceeds from Issuance of Common Stock				$ 0	$ 3,929,795
Warrant Redemption Fees Per Share			$ 0.001
Warrant Redemption Weighted Average Common Stock Per Share Threshold Limit			$ 7.50
Investors [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			1,692,151
Stock Issued During Period, Value, New Issues			$ 4,060,000
Shares Issued, Price Per Share			$ 2.40
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			846,073
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 4.50
Proceeds from Issuance of Common Stock			$ 3,900,000
Private Placement [Member]
Class of Stock [Line Items]
Payments of Stock Issuance Costs			$ 100,000
Underwritten Public and Registered Direct Offering [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		3,403,125
Sale of Stock, Price Per Share		$ 3.20
Stock Issued During Period, Value, New Issues		$ 10,890,000
Payments of Stock Issuance Costs		1,000,000
Proceeds from Issuance of Common Stock		$ 9,900,000
ATM Program [Member]
Class of Stock [Line Items]
Common Stock Sales Agreement, Maximum Amount To Be Issued	$ 5,000,000			$ 5,000,000
Commission Rate On Sale Price Per Share	3.00%

STOCK AWARDS, WARRANTS AND OP28

STOCK AWARDS, WARRANTS AND OPTIONS (Details)	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Class of Warrant or Right [Line Items]
Warrants Outstanding at Beginning | shares	1,081,903
Warrants Granted | shares	0
Warrants Exercised | shares	0
Warrants Expired | shares	0
Warrants Outstanding at Ending | shares	1,081,903
Weighted Average Exercise Price Outstanding at Beginning | $ / shares	$ 4.01
Weighted Average Exercise Price Granted | $ / shares	0
Weighted Average Exercise Price Exercised | $ / shares	0
Weighted Average Exercise Price Expired | $ / shares	0
Weighted Average Exercise Price Outstanding at Ending | $ / shares	$ 4.01

STOCK AWARDS, WARRANTS AND OP29

STOCK AWARDS, WARRANTS AND OPTIONS (Details 1) - $ / shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Class of Warrant or Right [Line Items]
Warrants Outstanding	1,081,903	1,081,903
Period Issuance one [Member]
Class of Warrant or Right [Line Items]
Grant Date	Apr. 4, 2012
Warrants Outstanding	187
Weighted Average Exercise Price	$ 2.27
Expiration Date	Apr. 4, 2017
Period Issuance two [Member]
Class of Warrant or Right [Line Items]
Grant Date	Nov. 20, 2013
Warrants Outstanding	235,643
Weighted Average Exercise Price	$ 2.27
Expiration Date	Nov. 20, 2018
Period Issuance three [Member]
Class of Warrant or Right [Line Items]
Grant Date	Mar. 16, 2016
Warrants Outstanding	846,073
Weighted Average Exercise Price	$ 4.50
Expiration Date	Mar. 16, 2019

STOCK AWARDS, WARRANTS AND OP30

STOCK AWARDS, WARRANTS AND OPTIONS (Details 2)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility		79.00%
Expected term		7 years
Dividend yield	0.00%	0.00%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	81.00%
Expected term	7 years
Risk-free interest rates	2.30%	1.70%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	78.00%
Expected term	5 years
Risk-free interest rates	2.20%	1.50%

STOCK AWARDS, WARRANTS AND OP31

STOCK AWARDS, WARRANTS AND OPTIONS (Details 3) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	$ 471,790	$ 290,586
General and adminstrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	301,222	219,324
Research and development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	$ 170,568	$ 71,262

STOCK AWARDS, WARRANTS AND OP32

STOCK AWARDS, WARRANTS AND OPTIONS (Details 4) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Aggregate Intrinsic Value
Outstanding		$ 6,874,063
Stock Option [Member]
Number of Options
Outstanding at Beginning of the period	6,608,382
Granted	603,131
Exercised	0
Expired/Cancelled	(31,417)
Outstanding at Ending of the period	7,180,096
Exercisable	5,311,191
Weighted Average Exercise Price
Outstanding at Beginning of the period	$ 1.62
Granted	2.59
Exercised	0
Expired/Cancelled	3.22
Outstanding at Ending of the period	1.69
Exercisable	$ 1.12
Aggregate Intrinsic Value
Outstanding	$ 12,106,000
Exercisable	$ 12,015,092

STOCK AWARDS, WARRANTS AND OP33

STOCK AWARDS, WARRANTS AND OPTIONS (Details Textual) - USD ($)	Jun. 02, 2016	Jan. 31, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 1.86	$ 1.59
Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized		427,980			325,099
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Annual Increase In Number Of Shares Authorized			2.00%
Non-Employee Director Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Amount Authorized in Plans After Merger			2,697,311
Employee Stock Option [Member] | Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Amount Authorized in Plans After Merger			4,149,710
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Annual Increase In Number Of Shares Authorized	2.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					4,474,809
Incentive Stock Option [Member] | Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Minimum Limit Of Fair Market Value To Be Treated As Non-Statutory Stock			$ 100,000

CONCENTRATIONS (Details Textual

CONCENTRATIONS (Details Textual)	Mar. 31, 2017USD ($)
Concentration Risk [Line Items]
Cash, Uninsured Amount	$ 12,500,000
Financial Institution One [Member]
Concentration Risk [Line Items]
Cash, FDIC Insured Amount	$ 250,000

GOVERNMENT GRANT AWARDS (Detail

GOVERNMENT GRANT AWARDS (Details Textual) - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
	Mar. 31, 2017	Jul. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Nov. 30, 2016	Sep. 30, 2016	Jun. 16, 2016	Aug. 31, 2013
Disbursement Amount Under Grant Award						$ 1,100,000
Proceeds from Issuance of Long-term Debt, Total			$ 0	$ 1,000,000
Restricted Cash and Cash Equivalents	$ 1,100,000		1,100,000		$ 1,300,000
California Institute for Regenerative Medicine [Member]
Approved For Grant Award								$ 3,400,000
Grant Award Liability	3,100,000		3,100,000
Minimum Expected Contribution			2,300,000		2,300,000
Proceeds from Issuance of Long-term Debt, Total		$ 2,000,000			$ 3,100,000
Restricted Cash and Cash Equivalents	1,100,000		1,100,000
NIH Grant Award DYNAMIC [Member]
Approved For Grant Award									$ 2,900,000
NIH Grant Award HLHS [Member]
Maximum Amount Approved for Grant Award							$ 4,200,000
Cost Incurred Under Award	$ 30,000
U.S. Department of Defense Grant Award [Member]
Approved For Grant Award							$ 2,400,000
Cost Incurred Under Award			$ 500,000

COMMITMENTS AND CONTINGENCIES36

COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2017USD ($)
Other Commitments [Line Items]
2017 (9 months)	$ 251,175
2,018	292,722
Total minimum lease payments	$ 543,897

COMMITMENTS AND CONTINGENCIES37

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	Feb. 02, 2015	Jul. 31, 2015	Mar. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Jun. 01, 2014
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net	$ 17,957
Operating Leases, Future Minimum Payments Due				$ 543,897
Monthly Lease Payment First Twelve Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net				16,620
Operating Leases, Rent Expense, Contingent Rentals				22,995
Monthly Lease Payment Second Twelve Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net				17,285
Operating Leases, Rent Expense, Contingent Rentals				23,915
Monthly lease payment Remainder lease payment [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Contingent Rentals				24,872
Unrealated Party [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net				71,215	$ 65,088
Related party [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense				56,105	$ 56,105
Operating Leases, Future Minimum Payments Due				$ 38,700
Per Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Leases Monthly Payments for First Six Months						$ 15,461
Leases Monthly Payments for Remainder						$ 19,350
Operating Leases, Rent Expense, Net			$ 21,420
Operating Leases, Rent Expense, Contingent Rentals		$ 22,111

LICENSE AGREEMENTS (Details Tex

LICENSE AGREEMENTS (Details Textual)	Aug. 05, 2016USD ($)	Oct. 08, 2014USD ($)	Feb. 27, 2015USD ($)	Dec. 27, 2013USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2017EUR (€)
LICENSE AGREEMENTS [Line Items]
Additional Milestone Payments to be Received Contingent upon Exercise of Options				$ 325,000,000
Payments for Royalties | €						€ 20,000
CSMC [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment	$ 2,500
Reimbursed Expenses to be Paid	16,000
Medtronic [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment		$ 100,000
Additional Milestone Payable Maximum Amount		$ 7,000,000
Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment			$ 20,000
Additional Milestone Payable Maximum Amount			190,000
Reimbursed Expenses to be Paid			34,000
Janssen Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Payment Received For Development Fee				$ 12,500,000
CSMC Licence Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment	2,500
Reimbursed Expenses to be Paid	$ 10,000
Minimum [Member]
LICENSE AGREEMENTS [Line Items]
Development Milestones					$ 350,000
Maximum [Member]
LICENSE AGREEMENTS [Line Items]
Development Milestones					800,000
Maximum [Member] | JHU License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Potential Milestone Payments					1,850,000
Completion of Phase One [Member] | Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Milestone Payments To Be Made Upon Successful Completion Of Certain Phases			15,000
Completion of Phase One [Member] | Minimum [Member]
LICENSE AGREEMENTS [Line Items]
Range of Milestone Payments, Payable Upon Successful Completion of Certain Phases					100,000
Obtention of FDA Approval [Member] | Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Milestone Payments To Be Made Upon Successful Completion Of Certain Phases			$ 75,000
Obtention of FDA Approval [Member] | Maximum [Member]
LICENSE AGREEMENTS [Line Items]
Range of Milestone Payments, Payable Upon Successful Completion of Certain Phases					1,000,000
First and Second Anniversary [Member]
LICENSE AGREEMENTS [Line Items]
Payments for Royalties					5,000
Tenth Anniversary and Thereafter [Member]
LICENSE AGREEMENTS [Line Items]
Payments for Royalties					$ 20,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Apr. 30, 2013	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Accounts Payable and Accrued Expenses Related Party Current		$ 109,796		$ 489,217
Lit Digital Media LLC [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party				1,500
Board of Directors Chairman [Member] | Sublease Agreement with Frank Litvack [Member]
Related Party Transaction [Line Items]
Rental Income, Nonoperating	$ 2,500	$ 7,500	$ 7,500
Board of Directors Chairman [Member] | Consulting Agreement with Frank Litvack [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction		Effective January 1, 2013, Frank Litvack, the Companys Executive Chairman and a member of its Board of Directors, entered into an oral Consulting Agreement with Capricor whereby Capricor agreed to pay Dr. Litvack fees of $10,000 per month for consulting services.
Affiliated Entity [Member] | Transaction other than Sub-Award Agreement [Member]
Related Party Transaction [Line Items]
Accounts Payable and Accrued Expenses Related Party Current		$ 107,296		$ 477,907

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($) $ / shares in Units, $ in Millions	May 05, 2017	Mar. 31, 2017	Dec. 31, 2016
Common Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001
Subsequent Event [Member]
Liquidity Damage Obligation Description	The Company will be required to pay to each Investor liquidated damages equal to 1.0% of the aggregate purchase price paid by such Investor pursuant to the Subscription Agreements for the shares per month (up to a cap of 10.0%) if it does not meet certain obligations with respect to the registration of the shares, subject to certain conditions.
Subsequent Event [Member] | Subscription Agreements [Member]
Stock Issued During Period, Shares, New Issues	1,196,291
Shares Issued, Price Per Share	$ 3.10
Stock Issued During Period, Value, New Issues	$ 3.7
Common Stock, Par or Stated Value Per Share	$ 0.001